Bitcoin surprised everyone last Friday with a 4% price jump after Federal Reserve Chair Jerome Powell made some reassuring statements. This pushed Bitcoin above $116,000, wiping out losses from the previous week. Analyst Tony “The Bull” Severino thinks this bounce is a big deal.
A Wall of Worry, and a Path to Higher Prices?
Severino’s analysis shows Bitcoin bouncing off a key support level – he calls it the “Wall of Worry” – which has held since November 2023. Each time Bitcoin hit this support, it then rallied to higher prices. Following this pattern, Severino sees a potential short-term target around $144,000 (a roughly 24% increase from current levels). If the rally continues, a much bigger jump to $183,000 is possible. However, if Bitcoin breaks below the “Wall of Worry,” things could get bearish, potentially dropping to the $95,000-$100,000 range.
What the Charts Are Saying
At the time of writing, Bitcoin is trading around $115,641, up over 3% in the last 24 hours. Trading volume is also way up (39% increase). However, it’s worth noting that Bitcoin is still down slightly over the week and month, meaning new investors haven’t quite recouped their investments yet.
October: Bitcoin’s Historically Bullish Month?
Analyst Jordan Pivato predicts the current Bitcoin cycle will peak on October 21, 2025. His prediction is based on the length of previous cycles and Bitcoin’s historically strong performance in October. October has been a good month for Bitcoin in the past, with gains in six out of the last twelve years. On average, Bitcoin sees a massive 46.72% increase in October! This makes it Bitcoin’s best month of the year, statistically speaking.
